Headlands Technologies LLC Invests $749,000 in Corpay, Inc. (NYSE:CPAY)

Headlands Technologies LLC bought a new position in Corpay, Inc. (NYSE:CPAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,214 shares of the company's stock, valued at approximately $749,000.

Several other hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in Corpay by 16.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 204 shares of the company's stock valued at $69,000 after buying an additional 29 shares during the period. Tealwood Asset Management Inc. boosted its holdings in shares of Corpay by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 4,197 shares of the company's stock worth $1,420,000 after purchasing an additional 30 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Corpay by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,963 shares of the company's stock worth $2,018,000 after purchasing an additional 30 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Corpay by 2.7% in the fourth quarter. IFP Advisors Inc now owns 1,151 shares of the company's stock worth $390,000 after purchasing an additional 30 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its position in Corpay by 3.5% during the 4th quarter. Lake Street Advisors Group LLC now owns 939 shares of the company's stock valued at $318,000 after purchasing an additional 32 shares during the last quarter. 98.84% of the stock is owned by hedge funds and other institutional investors.

Corpay Stock Down 1.6 %

CPAY stock traded down $4.56 on Monday, reaching $284.01. 425,458 shares of the company traded hands, compared to its average volume of 477,765. The firm has a fifty day simple moving average of $359.52 and a 200-day simple moving average of $353.09. The company has a market cap of $19.95 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05.

Corpay (NYSE:CPAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. Research analysts anticipate that Corpay, Inc. will post 19.76 earnings per share for the current year.

Insiders Place Their Bets

In other Corpay news, Director Richard Macchia sold 2,427 shares of Corpay stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the sale, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. This trade represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Raymond James reduced their target price on Corpay from $434.00 to $417.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Corpay from $415.00 to $445.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 target price for the company in a research report on Wednesday, January 8th. Citigroup started coverage on shares of Corpay in a research note on Tuesday, January 14th. They set a "buy" rating and a $430.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $401.54.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.